Emergency order stays two corporate guarantees in subsidiary arbitration
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GHV Infra FZ-LLC, a wholly owned subsidiary, began arbitration at DIAC against Rana Exim FZ-LLC over an EPC contract for the Erisha Smart Manufacturing Hub in RAKEZ, UAE. A November 3 emergency order stayed invocation of two corporate guarantees and blocked related demands, collection and payment receipts. The main claim seeks refund of an AED 11,242,746 earnest money deposit; final claims remain undecided.
Positive near term as it blocks guarantee enforcement, but any recovery or financial impact remains uncertain until the final arbitration.